Time to grow your portfolio?

The problems people face growing their property portfolios;

People keep asking for more information, I can’t keep up!

For most people planning to purchase a business, there’s just too much to do – the due diligence, the finance application, dealing with the vendor and the solicitors, the bank and the valuers – all of this becomes like a full-time job, at the same time as you are trying to work in a full-time job!

All banks are the same – aren’t they?

Buying your first business can be daunting, there are so many banks out there, not just the traditional high street banks but all the challenger banks, Internet-only banks, specialist lenders, the list goes on and on. How do you choose the best one for your business purchase? Each has their own lending criteria, will come back with a different loan amount, loan term and interest rate.

How do you know that you’re getting the best deal?

If your bank turns you down how do you know if the case is viable and they just don’t like the sector?

What do I need to tell the bank and what should I avoid?

Getting the lending proposition right, with all the relevant information in it saves huge amounts of time, especially when you are dealing with an inexperienced bank manager who has to talk to his credit team at every juncture.

The 7 mistakes to avoid

Starting in the wrong place

We all have a dream of running our own business, being our own boss but we don’t all have the skills to run that business

Asking for money with a badly written “pitch”

The days of meeting the bank manager on the golf course and agreeing on a commercial mortgage in the “19th hole” are over. Business loans are business and need to be treated as such. If you expect a bank to put money behind your business, probably twice the money you are putting in, then you need to start thinking like a business owner.

Only approach the wrong bank!

More than 60% of business owners and prospective business owners make this mistake – they don’t select their lending partner on their support for the particular sector, their customer service record or for their pricing – Most business owners choose their bank because that’s who they have their bank account with.

Falling for the “roses around the door”

The value of a business isn’t it’s idyllic location or how beautiful it is, it’s how much money it’s making (or how much it’s going to make for you!). So – by all means you should look for businesses where you’d like to live and the right place for you, but you also need to be “head over heart” and make sure you’re not buying something which is going to end up a money pit. Why are the vendors selling it?

Hoping that they won’t notice any negative aspects

Applying as a limited company so that the bank won’t need a personal credit search or in a single name so they won’t know your partner’s a bankrupt is probably not going to work – lender’s have seen all the dodges before and your bank won’t like it if you keep secrets!

We don’t need a business plan – we’re buying a good business!

The business plan is an important part of any business acquisition – making an application without any sort of plan shows a lack of commitment to the purchase and, if you’re not committed why would a bank commit their money to support you?

Working with Acorn.finance is better

The best Return on Investment (ROI)

Working with the best lender for your particular proposition means that your deposit will go further and you’ll be able to buy a more profitable business.

Lower Risk

Buying a profitable business means less risk, even if you are borrowing more the fact that the business is already capable of paying the business loan or commercial mortgage then the risk is far lower than that of starting from scratch.

Saving you time – getting the business you want faster

Working with the Acorn.finance experts will mean you’ll be moving into your perfect business before the competition have even got off the starting blocks.

By working together we’ll;

Gain an understanding of your needs, skills and experience.

Work with you and the agents to match these to the perfect business (often a business which is not on the open market).

Get the right application pack into the right hands quickly.

Work with all the relevant professionals to ensure things progress.

Keep working until the day you move in, and beyond.

Why customers like you choose Acorn.finance

Our experience of 20 years making purchases happen

Our award-winning approach to business and property finance

Our 5* customer service

We understand your problem, then help the lender to understand.

Don’t just take our word for it

acorn.finance is an award winning finance broker, here are a few testimonials from our clients;

Let’s grow your portfolio

What service will Acorn.finance provide?

Our “getting to know you” kit will help you to understand what type of business will best suit your skills and experience.

We’ll give you the tools to find the perfect business for you – and help you find it.

Together, we’ll analyse the target business to ensure it’s the perfect fit, then if it isn’t, working together we’ll find one that is.

If you need help with the business plan or other information, it’s right here.

Once the price is agreed we’ll arrange the finance you need to buy your perfect business.

Everything you need is part of the package, your Acorn.finance expert will arrange your business valuation, solicitor, stock-taker and insurance.

Once you take the business over, we’re here to help with any cash-flow issues, a new car or equipment. Just call us*

* Your fee payment will cover you for membership of the Acorn.finance business growth club for 12 months and will cover any further finance requirements during that period.

Security

We are also full members of the National Association of Commercial Finance Brokers.

Although most of the commercial mortgages, business loans, buy to let mortgages, bridging finance and property development loans acorn.finance arrange are not regulated by the Financial Conduct Authority we take our responsibilities as a professional broker very seriously and apply the highest standards of customer service and advice to every case, regulated or not.

Strict code of practice

As members of the NACFB since 1997, our ethos has always been to adhere to their Code of Practice in every aspect of our business.

The NACFB has operated an industry recognised Code of Practice since 1992 which endorses best practice in the industry. All NACFB brokers agree to abide by the Code of Practice which ensures that you have the guarantee that Acorn.finance will always operate professionally and in your best interest.

About Acorn.finance

Founded in 1997 by father and son team Tom and Paul Thompson, Acorn Finance have long been one of the leading finance brokers in the small business and property sectors.
We’re a multi-award winning team with 7 “best UK broker” awards in the last 6 years and have been featured on the BBC Inside Out programme to show best practice in the commercial lending sector.

Acorn’s specialist knowledge of small businesses marked us out as the “go to” broker for any trading business but especially those in the hospitality sector which resulted in Acorn Commercial Finance becoming the only finance provider asked to join the BIIAB (British Institute of Innkeeping Advisory Board).

We work harder to find the funding you need to thrive

As a small business just like you, the Acorn.finance team understands the needs and time pressures of the buy to let property investor, developer or business owner.

Our mission is to give every business owner, property investor or developer access to the finance they need to thrive and grow. In a broad and fragmented market with more lending sources than ever, it is no longer an option to rely on the products of just one lender for the life of a business, lenders are many and varied. Our role is to help you find the very best funding package to fill your needs, and to have the funding available to you, just when you need it. To do that we work across the whole of the finance market, from the high street banks and challenger banks through to crowdfunding providers (including our own) and sometimes private equity and businesses angel investors.

Whether you are growing your business or investment portfolio or just starting out then finance is of vital importance and getting the best deal can easily be the difference between growing or not or even failure. Our experts take time to understand your needs and aims in both the long and short term before recommending you a product which we believe is the best one to achieve your aims. By taking that time to understand your needs we also work more closely with our lenders than most brokers, that means we have a market leading level of success with more applications going through to a successful completion and more of our clients go on to long-term success.

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